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From: lyger (lygerattrition.org)
Date: Fri Nov 30 2007 - 11:04:20 CST
Framingham retailer TJX Cos. said this morning it has reached an agreement
with payment card network Visa USA Inc. to fund up to $40.9 million for
payments to certain banks following a massive breach of TJX's computer
systems through last year.
Under the terms of the agreement, TJX, the parent of discount chains
including TJ Maxx and Marshalls, said banks that issued Visa payment cards
potentially affected by the computer breach could receive payments in
return for agreeing not to sue or take other steps against TJX and banks
such as Fifth Third Bancorp of Ohio that process its transactions.
Roughly 100 million credit- and debit-card accounts were compromised in
the intrusion first disclosed in January, the largest in history.
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